An estimate or prediction of conditions and events in the project’s future based on information and knowledge available at the time of the forecast. A description of how individual requirements meet the business need for the project. A technique for determining the cause and degree of difference between the baseline and actual performance. A technique used to identify the type of dependency that is used to create the logical relationships between predecessor and successor activities. The stakeholder register contains details about the identified stakeholders to help understand the knowledge they may have. The process of using existing knowledge and creating new knowledge to achieve the project’s objectives and contribute to organizational learning. Project parameters used in the model are quantifiable. A technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed. Such expertise may be provided by any group or person with specialized education, knowledge, skill, experience, or training. It is really helpful for anyone who is wondering about the topic of PMP Exams. The process of gathering and organizing data about product requirements and analyzing them against available alternatives including the purchase or internal manufacture of the product. You should consider gaining knowledge from individuals or groups with specialized training or expertise, such as those with training in knowledge management, information management, organization learning, or other topics. The system used to provide and track supplier’s invoices and payments for services and products. Leadership is used to communicate the vision and inspire the project team to focus on the appropriate knowledge and knowledge objectives. Based on more detailed analysis of the project. The ability to plan, organize, direct, and control individuals or groups of people to achieve specific goals. An elicitation technique using focused sessions that bring key cross-functional stakeholders together to define product requirements. Failure costs (cost of non-conformance) include costs to rework products, components, or processes that are non-compliant, costs of warranty work and waste, and loss of reputation. A technique used to estimate cost or duration by applying an average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates. Review and determination of the timing of actions that may need to occur sooner than other risk items. An analytical technique to determine the essential features and relationships of components in the project management plan to establish a reserve for the schedule duration, budget, estimated cost, or funds for a project. It is welcome change/addition to the sixth edition and so very important to Project Management… This process is performed throughout the project. 4.4.2 Manage Project Knowledge: Tools & Techniques. The resource breakdown structure includes information on the composition of the team and may help to understand what knowledge is available as a group and what knowledge is missing. A standard toolkit used by quality management professionals who are responsible for planning, monitoring, and controlling the issues related to quality in an organization. A technique for systematically reviewing materials using a list for accuracy and completeness. ), and how people and other systems (actors) interact with it. In fact each project management process has it’s own T&T, and I do not recommend to memorize them all by heart, I do recommend that you had a good, solid, understanding about each tool or technique and their role. A visual depiction of the product scope showing a business system (process, equipment, computer system, etc. A gathering of two or more people that has been convened for the purpose of achieving a common goal through verbal interaction, such as sharing information or reaching agreement. A formal or informal approach to elicit information from stakeholders by talking to them directly. Knowledge captured in the past is used to improve performance on the current project, and the knowledge created by the current project is made available to future projects. Following are the key points about the Manage Project Knowledge process. Process of intervention in the working environment to increase productivity and efficiency of the team and to prevent failures. It reflects an increased focus on managing knowledge throughout the project. As a result, project management and knowledge management (KM) are both a necessity to lead to an improved competitive advantage for each organization. This topic (Knowledge Management) is newly introduced in PMBOK sixth edition with a new process and a list of tools and techniques. A technique of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. Examining or measuring to verify whether an activity, component, product, result, or service conforms to specified requirements. Acquisition implies a cost of resources, and is not necessarily financial. A tool that provides schedule component names, definitions, structural relationships, and formats that support the application of a scheduling method. Knowledge management is the strategic management of people and knowledge representations along with associated content and information in an organization, using technology and processes so as to optimize knowledge sharing and utilization, by transferring knowledge … The model fits both large and small projects (scalable). Risk trigger is an event or condition that causes a risk to occur. There are many commonalities between the two, and in fact, it can be argued that project management is a part of KM or KM is a part of project management. by Yasaf Burshan, PMP | Oct 29, 2016 | Obtaining a PMP Certificate, PMP | 4 comments. A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS). The technique of identifying early and late start dates, as well as early and late finish dates, for the uncompleted portions of project schedule activities. 4.4.2.2 Knowledge Management A grid for mapping the probability of each risk occurrence and its impact on project objectives if that risk occurs. They are an input to many planning processes. Technique to evaluate the degree to which the data about risks is useful for risk management. Knowledge Management. Information management tools and techniques are used to create and connect people to information. The physical or electronic representation of work performance information compiled in project documents, intended to generate decisions, actions, or awareness.
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